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Universal Ibogaine Begins Trading on the TSX

The article Universal Ibogaine Begins Trading on the TSX was originally published on Microdose.

We have a new member of the publicly-traded psychedelic…

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The article Universal Ibogaine Begins Trading on the TSX was originally published on Microdose.

We have a new member of the publicly-traded psychedelic medicine club.

Universal Ibogaine is a Canadian company developing a platform of addiction clinics for the treatment of opioids such as oxycodone, heroin, fentanyl, as well as alcohol, cocaine, and other stimulants.

The company began trading on the TSX on Oct 5th under the symbol “IBO”, making it one of the only companies to be focused primarily on this under-researched and potentially groundbreaking substance.

Universal also plans to clinically develop ibogaine, a natural plant substance, as an authorized addiction interruption medicine for the treatment of Opioid Use Disorder. A Clinical Trial Application to Health Canada is being developed to undertake clinical trials in Canada, aimed at proving the safety and efficacy of the use of ibogaine for this purpose.

Check out Universal Ibogaine’s website for more on the company and see an interview and keynote presentation by the company’s former CEO at Microdose’s Ibogaine Conference.

See the full press release and announcement below:

Universal Ibogaine Inc. (TSXV:IBO) (“Universal Ibogaine”, “UI” or the “Company”), a life sciences company with a mission to deliver medicalized ibogaine-centered addiction care, is pleased to announce the commencement of trading today of its common shares on the TSX Venture Exchange (“TSXV”) under the symbol “IBO”.

The Company’s news release of October 1, 2021, advised of the approval of listing of UI’s common shares by way of issuance of the Final Exchange Bulletin by the TSXV, and included details of the number of common shares which will be subject to future escrow and legend restrictions.

Universal Ibogaine aims to help solve the opioids crisis, generating a sustainable change in the lives of people living with addiction, and positively transforming the way addiction is viewed.

UI intends to develop innovative addiction treatments starting with clinical trials research into ibogaine, as well as treat addiction in clinics by creating and rolling out a state-of-the-art holistic addiction treatment model. Ibogaine has been shown to decrease withdrawal symptoms and associated cravings to opioids such as oxycodone, heroin, and fentanyl, and has shown effectiveness in disrupting addiction to other substances such as alcohol and cocaine. The UI addiction treatment model intends to extend from medical detoxification to rehabilitation & aftercare, as well as increasing effectiveness and minimizing relapse.

From Dr. Rami Batal, UI’s Chief Executive Officer

“We thank our shareholders for their unwavering support and patience throughout the listing process. We are excited to now focus on our growth plan related to rolling out our addiction treatment offering starting with the Kelburn Clinic, as well as research into clinically developing and ultimately medicalizing ibogaine to become a central treatment for opioid and other addictions. The plan forward calls on engagement and close coordination with Health Canada through a clinical trial application (“CTA”) submission process and a subsequent undertaking, with the approval of Health Canada, of a phase 1 and 2 “human proof of concept” clinical trial to establish the safety and efficacy of ibogaine. We aim to conduct the trial in the coming year and to establish a firm path to medicalizing ibogaine in Canada. Concomitantly, our work in treating addiction at the Kelburn clinic and future facilities will result in the creation and application of innovative addiction treatment approaches and methods. Essentially, we will still offer and advance addiction care while we work on authorizing ibogaine as a central treatment for addiction”.

From Chief Ian Campbell, Chairman of the Board of Ul

“Today’s announcement is the culmination of years of hard work, dedication, and commitment by all our team. Although we still have some way to go to bring this medicine to the people, today’s announcement marks a significant milestone for our organization. We have now made it possible for the public, the people, to participate in this process, to share ownership in the vision and mission of a company that is working to change the way we view addiction, destigmatize, and ultimately heal from addiction and its underlying causes. I am proud of what we have accomplished so far and confident in our ability to bring our goals to fruition.”

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